Boise Real Estate Market Statistics-April 2018

Ada County
April Market Statistics

Available Homes
# Available: 1204
# Vacant: 804 (67%)
# Short Sale: 3 (<1%)
# Bank Owned: 3 (<1%)
Median Asking Price: $396,475

Pending Sales
# Pending: 1937
Median Asking Price: $328,000

Closed Sales—April 2017
# Closed: 884
# Short Sale: 2 (<1%)
# Bank Owned: 7 (1%)
Median Sales Price: $252,769
Median Days on Market: 7

Closed Sales—April 2018
# Closed: 914
# Short Sale: 0 (0%)
# Bank Owned: 3 (<1%)
Median Sales Price: $296,900
Median Days on Market: 6


April Showers…

As we head into the full Spring Market we finally see an increase in Available Inventory. Okay so it is only up by 53 homes but at least we did not continue to slide backwards. Median asking price is up by $15K to $396K., slowly inching our way to the $400K mark.
Interesting to note is that in the past year the median asking price has normally gone up by $3K-$5K each month. Then in January 2018 the price jumped by over $20K and then up by another $10K in February, holding steady in March and now jumping again another $15K.

That being said, while we saw the Median Sales price for Sold homes go over the $300K for last month, it actually came down by $10K. I do think that we will see some fluctuation in and around the $300K range until that price is the new bottom.
Inventory is still too low so if you are thinking of selling or know someone who is, please contact me for a free Comparable Market Analysis (CMA).

Brokerage: Silvercreek Realty Group 1099 S Wells St Suite 200, Meridian ID 83642

 

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